Investors Sell BioMarin Pharmaceutical (BMRN) on Strength After Insider Selling

Investors sold shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on strength during trading hours on Tuesday after an insider sold shares in the company. $26.42 million flowed into the stock on the tick-up and $51.75 million flowed out of the stock on the tick-down, for a money net flow of $25.33 million out of the stock. Of all companies tracked, BioMarin Pharmaceutical had the 0th highest net out-flow for the day. BioMarin Pharmaceutical traded up $0.04 for the day and closed at $95.62Specifically, CFO Daniel K. Spiegelman sold 11,059 shares of the business’s stock in a transaction that occurred on Monday, April 23rd. The shares were sold at an average price of $82.15, for a total transaction of $908,496.85. Following the sale, the chief financial officer now directly owns 62,543 shares of the company’s stock, valued at approximately $5,137,907.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian Mueller sold 2,450 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $89.50, for a total transaction of $219,275.00. Following the sale, the senior vice president now directly owns 17,846 shares in the company, valued at $1,597,217. The disclosure for this sale can be found here. Insiders have sold a total of 174,031 shares of company stock worth $15,083,208 over the last ninety days. 1.90% of the stock is currently owned by insiders.

A number of equities research analysts have weighed in on the stock. BidaskClub lowered shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a report on Friday, June 8th. ValuEngine lowered shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Sanford C. Bernstein reduced their target price on shares of BioMarin Pharmaceutical from $97.00 to $92.00 and set a “market perform” rating on the stock in a report on Monday, April 30th. BMO Capital Markets reissued an “outperform” rating and set a $125.00 target price (up from $119.00) on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Finally, Credit Suisse Group reissued a “buy” rating and set a $116.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, March 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. BioMarin Pharmaceutical presently has an average rating of “Buy” and an average target price of $112.50.

The stock has a market capitalization of $17.25 billion, a PE ratio of -142.72 and a beta of 1.71. The company has a current ratio of 2.90, a quick ratio of 2.29 and a debt-to-equity ratio of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, April 25th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.08). The firm had revenue of $373.45 million during the quarter, compared to analyst estimates of $348.73 million. BioMarin Pharmaceutical had a negative return on equity of 3.01% and a negative net margin of 10.48%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. equities research analysts forecast that BioMarin Pharmaceutical Inc. will post -0.12 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in BMRN. Financial Gravity Companies Inc. acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at $112,000. Financial Gravity Wealth Inc. acquired a new position in shares of BioMarin Pharmaceutical during the 1st quarter valued at $195,000. Redmile Group LLC acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at $223,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at $224,000. Finally, BancorpSouth Bank acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at $240,000.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

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